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May 12, 2013 8:51 PM by Monica Gouty

It pays to run a college; president salary info released

BUFFALO, N.Y. (AP) - The Chronicle of Higher Education has released its annual ranking of what public college presidents make.

Survey results released Sunday show four chief executives earned more than $1 million last year.

Topping the list was ex-Penn State President Graham Spanier (SPAN'-yer). He shot to the No. 1 spot when he was forced out in November 2011 over his handling of the sex abuse scandal involving former defensive coordinator Jerry Sandusky. Spanier received $2.9 million in 2011-12, including $1.2 million in severance pay and $1.2 million in deferred compensation.

The median compensation for public college presidents including pay, benefits and bonuses was $441,000.

Ohio State University President E. Gordon Gee (gee) had the highest base salary: $830,000. That's more than double the median base salary of $374,000.

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